CS direct District Collectors to extend collateral free loans for MSMEs

Hyderabad, Aug.6 (Maxim News): Chief Secretary Somesh Kumar directed the district collectors to extend collateral free loans for Micro Small and Medium Enterprises (MSMEs) under the Guaranteed Emergency Credit Line and ensure that hundred percent target is achieved. The Chief Secretary today held a video conference with district collectors, bankers at BRKR Bhavan on Atmanirbhar Abhiyan package for MSMEs.

He instructed the collectors to conduct regular review meeting with district managers of industries department , lead bank managers on extending loans to MSMEs in the state so as to ensure maximum benefit to the beneficiaries. He asked the collectors to pay more attention as the scheme will end after the threshold limits are reached and there are no state wise limits. He asked the bankers to furnish the list of MSMEs eligible under the credit guarantee scheme for subordinate debt.

Referring to the enumeration of street vendors, he asked the collectors to complete hundred percent enrollment of street vendors to extend bank linkage by appointing incharge officer for every street. He advised the bankers to issue necessary instructions to resolve the problems facing in the branches. He asked the bankers to extend credit to the beneficiaries as per the targets given to them.

Arvind Kumar, Principal Secretary MA&UD, Jayesh Ranjan, Principal Secretary IT& Industries, Manick Raj, Commissioner Industries, Satyanarayana, CDMA, and other officials attended the meeting. (Maxim News)